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Mannesmann Confirms the IPO of Engineering & Automotive

18 February 2000

Mannesmann Confirms the IPO of Engineering & Automotive

    DUSSELDORF, Germany, Feb. 17 -- The Supervisory Board of
Mannesmann (German Stock Exchange: MMN, ADR: MNNSY, Cusip 563775303, Bank of
New York) confirms the accelerated IPO of Engineering & Automotive.  This is
in line with the stated intention of Vodafone AirTouch.  The launch of
Engineering & Automotive under a new name will take place during the upcoming
weeks.
    As of March 1, 2000, Georg Acker, Dr. Joachim Rauhut and Peter Prinz
Wittgenstein will take over new responsibilities in the Executive Board of
Engineering & Automotive and will for this reason leave the Executive Board of
Mannesmann.
    Sigmar Sattler will become member of the Executive Board of Engineering &
Automotive, responsible for personnel affairs, in addition to his
responsibility for personnel at Mannesmann.
    As soon as the European Commission has approved the majority acquisition
of Mannesmann by Vodafone Air Touch, Prof. Dr. Joachim Funk, Dr. Heinz Durr,
Dr. Klaus Liesen and Prof. Dr. Heinz Riesenhuber will resign from the
Supervisory Board of Mannesmann in order to enable Vodafone to nominate new
members to the vacant positions.  Chris Gent, Chief Executive of Vodafone
AirTouch has already indicated that in this case he would assume the position
of Chairman of the Supervisory Board of Mannesmann at the beginning of March.
    Prof. Dr. Joachim Funk, Dr. Heinz Durr and Prof. Dr. Heinz Riesenhuber
will be appointed members of the Supervisory Board of Engineering &
Automotive.  It is planned that Prof. Dr. Joachim Funk will be appointed as
Chairman of the Supervisory Board of Engineering & Automotive.
    Mannesmann has duly asked the Supervisory Board Members, Dr. Josef
Ackermann, Canning Fok, Jurgen E. Schrempp and Dr. Henning Schulte-Noelle to
remain available as Mannesmann's Non-Executive Directors to be appointed to
the Board of Directors of Vodafone Air Touch.